The concessionaire is allowed to refinance according to changes in the macroeconomic environment, project risk, etc.
∙Investors may see their expected returns increase depending on changes in capital structure and debt financing
conditions, etc.
∙Refinancing gain is shared between the concessionaire and the government to benefit both parties. Refinancing gain
can be used to lower the level of user fee so that facility users can also benefit from refinancing.
Financing through the Infrastructure Fund is also encouraged to diversify investor profile.
∙The Infrastructure Fund is an indirect investment facility that collects funds from investors to lend and invest in PPP
projects, while also distributing profits to multiple investors.
∙Regulations on asset management and financing have been eased to promote the use of the Infrastructure Fund.